Belships - Director's Dealing 2023

Belships ASA: Mandatory notification of trade

The following primary insider has today been allocated share options in Belships

ASA:

? Yngve Aslaksen Gram (CFO): 300 000 share options

After the allocation, Gram has a total of 300 000 share options. In addition, he

owns 250 000 shares by his own and 50 000 shares through Kryptogram AS.

? 300 000 share options are distributed to other employees of Belships ASA.

The strike price of this allocation is set at NOK 23.00 per share, which is

equal to 105% of the share price after the general meeting on 6 May 2022 less

dividends paid out during the period of NOK 4.5 per share.

Belships has an option scheme for the company's employees and the award is

within the framework authorised at the general meeting on 6 May 2022.

Further details regarding the option grant to the CFO is included in the

attached PDMR forms.

Oslo, 8 May 2023

This information is subject to the disclosure requirements pursuant to the

Market Abuse Regulation article 19.

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